Bill Clinton Left Us A $5.6 Trillion Surplus

WTF?:

Representative Sheila Jackson Lee (D., Texas) claimed that the United States had a $5.6 trillion surplus at the end of the Clinton administration Tuesday.

“Remember, we had a $5.6 trillion surplus in 2000 – 2001 from the Clinton administration,” Jackson said in the interview while discussing fiscal cliff negotiations.

However, according to CNN Money,  the “Treasury Department reported a budget surplus… of $127 billion” for fiscal year 2001 and a $237 billion surplus for fiscal year 2000.

More proof that democrats have no idea the enormity of the dollar figures they’re dealing with. No grasp, whatsoever, on economics. Not even on a perfunctory level.

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11 Responses to Bill Clinton Left Us A $5.6 Trillion Surplus

  1. R.D. Walker says:

    The tiny surplus we actually had consisted of taxes on imaginary gains on deals made with the same imaginary bubble money that created Enron, allowed AOL to buy Time Warner and the same irrational exuberance that allowed companies like dogfood.com to be market capitalized like Exxon.

    Of course when the friggin Tulip Mania type bubble of imaginary wealth burst, the imaginary tax revenues disappeared with imaginary dot-com business plans and imaginary dot-com fortunes.

    Most of the “surpluses” were taken back in the following years as tax loss deductions on failed tech and dot-com investments.

    In the end, it didn’t add up to dried shit.

    But let’s not let facts get in the way of Democrat and media myth making

  2. RJ says:

    Lets also not let the fact that S Jackson Lee is crazy as a shit house rat get in the way of believing everything the CFB says. snark snark snark.

  3. DocO says:

    Man, I’m glad I make $65 million dollars a year.

    Woops, I mean $65 thousand a year.

    Yeah, that’s how stupid messing up billion and trillion is.

  4. billy says:

    Well, let’s see here… the national debt has gone up every year since 1958, with no exceptions. So how can B.J. Clinton be lauded for running a budget surplus?

    http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt.htm

    The national debt goes up more in one week under B.O., than it did in eight years under Eisenhower.

    And, this doesn’t even take into account the phoniness of the Unified Budget, enacted under Johnson, that takes Social Security / Medicare taxes and dumps them into the general fund, and replaces them in the imaginary Trust Fund (or “lockbox”, according to A-hole Gore) with worthless government IOU’s.

    this is why the so-called “unfunded liabilities” have gone parabolic, with estimates ranging from 80 trillion to over 200 trillion. But since the government says they are not “official debt”, I guess that they don’t count. Silly me.

    OBTW – Fuck you Sheila Jackson Lee

  5. R.D. Walker says:

    Billy: The last time there was no national debt, Andrew Jackson was president. The Clinton “surplus” was an annual surplus. In other words, the government had more tax revenues than expenditures for that year. Those annual surpluses didn’t even put a dent in the national debt.

    It’s like this…

    You owe the bank $500,0000. This year you made $60,000 and spent $59,990. You had at $10 budget surplus. Meanwhile, interest increased your debt to $502,000.

    Are you going to brag that you had a $10 surplus when at the end of the year you owed the bank $2,000 more than you did at the start of the year? That is what Democrats are doing when they brag up Clinton.

    Of course, to extend the metaphor, after New Year Day a few more bills from the previous year came in and it turned out you actually spent $60,010 so you had a deficit after all.

    Oh… and $30,000 of your $60,000 income for the year was because you picked six in the lottery.

  6. GomeznSA says:

    A BIG Thank You to all who have responded so far. I was beginning to think I was the only bitter clinger out there that had seen through the ‘clinton surplus’ hoax.
    RDW – you explained it so well that even a progressive should be able to figure it out but won’t!

  7. messup says:

    With a national average high school drop-out rate hovering around 52%, and gerrymandering of everything American by all House Members, Joseph Goebbels’ dictum of:”tell a lie, and repeat it convincingly it soon becomes believable and reality.” Simple!

    Just manufacture statistics… uneducated American students will gobble it down as “truth fodder.” Pray. Amen.

  8. Matt says:

    C’mon now, she was only off by a factor of 44.

  9. sortahwitte says:

    I think she’s hooked on Vicks 44.

    Goofy slut.

  10. Locke n Load says:

    When 99% of the Media and America can’t even tell you the difference between Debt and Deficit, is it surprising the dipshits they elect can’t manage the facts either?
    Might as well face it, this country is BEYOND economically illiterate. They can’t even SPELL economy much less balance their books or read a bank statement.

    RD, thats a great little analogy btw, consider it stolen.

    Oh, and for the record, I’ve still not found ONE PERSON in the last 3 years on the road, random people that is, who have ANY idea how baseline budgeting is related to our current annual deficits. I may have found one or two who’ve HEARD of baseline budgeting but NONE, ZIP, ZERO, NADA of them have ANY idea the current annual deficits are almost exclusively the fault of our baselining the ‘stimulus’ and then never passing a budget.
    That, my friends, is pathetic.

    Strangely, even the WSJ doesn’t treat the topic as germane, even when they put out great pieces like this
    http://tinyurl.com/ae3uzuk

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